BUSINESS

FBI Launches Investigation Of JPMorgan Trading Losses

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The FBI has opened a probe into trading losses at JPMorgan Chase & Co, stepping up the pressure on the bank after the U.S. Securities and Exchange Commission and the Federal Reserve said they were also looking into the wrong-way bets that led to the losses.
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The Bank of Italy building is seen downtown Milan

Moody's Downgrades 26 Italian Banks

Moody's Investors Service downgraded 26 Italian banks, including the country's largest lenders, as their economic performance weakened and the country's economic outlook remained troubled.
Avon Solutions bottles.

Coty Drops $10.7B Bid For Avon

Coty Inc. withdrew its $10.7 billion offer to buy Avon Products Inc. (NYSE: AVP) following months of failed communication by Avon, the company announced on Monday.
Greek euro

German Growth Rescues Euro From Dive

The euro pulled back from a four-month low against the dollar during Asian trading Tuesday after Germany, the euro zone's largest economy, announced first-quarter GDP growth of 0.5 percent.
Is the rate that houses are being built slowing down

NAHB Builder Confidence Index Rises To Five-Year High In May

Homebuilder confidence in the U.S. single-family home market rose to a five-year high in May as buyer traffic increased and sales improved, according to the National Association of Home Builders/Wells Fargo Housing Market Index released Tuesday.
U.S. business inventories disappointed in March

US Business Inventory Data Disappoint In March

U.S. business inventories rose in March at a slower pace than economists predicted, even as sales rallied, a datapoint that shows firms have not been as confident as economists and equity investors that the current economic recovery will proceed at a firm pace.
A Markit PMI survey indicated that the euro zone was continuing its plunge into a double dip recession, Monday.

Euro Zone Avoids 2nd Recession As German Q1 GDP Surprises

Stronger-than-expected growth in Germany helped the euro area avoid its second recession in three years at the start of 2012 but stagnation in France and contraction in southern Europe underlined the huge economic disparities across the single currency bloc.
Air India pilots' strike

Feuding Pilots On Board, Air India Looks Set For A Crash Landing

The latest crisis in Air India, India's state-owned airliner, began a week ago when striking pilots suddenly reported sick in huge numbers. The crisis has entered its eighth day Tuesday with the carrier cancelling 24 more flights even as no indication of a solution is seen on the horizon.
The Chicago PMI continues to signal economic recovery for the region, although some business have become worried about rising energy costs

April US Consumer Price Index Flat As Gas Prices Fall

Consumer prices in the U.S. were flat in April amid signs that a spike in gasoline costs was ebbing, according to government statistics released on Tuesday, supporting the Federal Reserve's view that the jump in fuel costs is only temporary.
Home Depot

Home Depot Sales Miss Estimates; Shares Fall

Home Depot Inc. (HD.N) reported weaker-than-expected quarterly sales on Tuesday after demand slowed in April following a jump in home improvement projects spurred by warm weather earlier in the year.
Traders on the floor of the New York Stock Exchange

US Stock Index Futures Point To Tuesday Rebound

U.S. stock index futures pointed to a higher open on Wall Street on Tuesday, with the futures for the S&P 500 and the Dow Jones up 0.6 percent and Nasdaq 100 futures up 0.8 percent at 0733 GMT.

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